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In a sobering revelation, the Ministry of Finance anticipates a staggering 6.5% deficit of the GDP for the year 2024, attributing the alarming shortfall to heightened expenses associated with financing ongoing military efforts. The updated draft of the budget proposal, yet to be officially distributed, sheds light on the financial predicament gripping the nation

In a recent report from the Chief Economist Division at the Ministry of Finance, November 2023 witnessed a partial rebound in housing market activity compared to the previous month. However, the numbers remain alarmingly low, marking the lowest level of transactions recorded in November over the past two decades

In a groundbreaking move, State Comptroller Mattaniho Engelman is recommending a comprehensive reassessment of Israel's fixed inflation target, which has remained unchanged at 1% to 3% per year for two decades. The recommendation comes as inflation exceeded the government's target, leading to deviations that could significantly impact the state budget and corporate financial planning. Engelman's call for a reevaluation is grounded in the recent economic developments, particularly the surge in inflation post-COVID, with the inflation rate reaching 5.3% in 2022. The State Comptroller's...

In a significant development, Wissam Tawil, a senior Hezbollah official recently appointed as the commander of the Radwan Force, the elite unit of the Lebanese terrorist organization, was killed on Monday. The attack, reportedly attributed to Israel, targeted Tawil's car in the town of Hirbat Salem in southern Lebanon

In an abrupt change, the price of fuel in Israel skyrocketed overnight by 28 shekels per liter, reaching a staggering NIS 7.22 per liter for Octane 95. This surge comes after a decision made at noon in a Ministry of Finance meeting to not extend the discount on the current price, effectively ending a fuel subsidy through tax reduction that lasted for a year and a half

In a surprising move, credit rating company Ma'alot S&P announced today that it is elevating the rating of the aerospace industry to A-, just six months after boosting it to BBB+. The company attributes this change to the aerospace industry's resilient operational performance, which remains robust despite the ongoing war and reserve mobilization

Intel has revealed a comprehensive investment plan in collaboration with the Israeli government to bolster its production capabilities in Kiryat Gat. This development involves an additional $15 billion investment in the plant, supplementing the $10 billion commitment made in 2019. The multinational corporation will construct a new chip factory, supported by a substantial $3.2 billion grant disbursed over several years, constituting 12.8% of the total investment

In a recent communication to its customers, global shipping giant Maersk revealed that it is contemplating a return to sailing in the Red Sea. This potential policy shift follows the company's earlier decision to cease operations in the region due to Houthi attacks. The catalyst for Maersk's reconsideration is the establishment of an international force, announced last week, aimed at countering Houthi threats and ensuring maritime security

In a pivotal development ahead of the war cabinet's discussion on the Egyptian proposal for hostage negotiations, Israel expresses readiness for significant concessions while firmly rejecting the possibility of a ceasefire

In a significant move to bolster its budget for 2024, the Ministry of Finance in Israel is contemplating the cancellation of the longstanding VAT exemption on purchases from abroad. The 17% automatic discount on overseas acquisitions is set to expire soon, marking a potential shift in taxation policy. This decision is part of broader efforts to tighten financial belts and raise taxes, but it has sparked a heated debate among stakeholders